Wites & Kapetan is calling for investors of Coty stock to take part in a lawsuit against the company.

This is due to Coy selling 57.1 million shares at $17.50 per share on June 13th, 2013, during its initial public offering (IPO). Then on On September 17, 2013 Coty issued its first financial results as a public company, reporting the Company’s fourth quarter and fiscal year 2013 financial results for the period ending June 30, 2013 – and the press release the Company revealed:

“over the past few months the Company has seen a deceleration of market growth in the U.S. and Europe, triggering significant destocking activity, particularly by U.S. mass retailers.” Further, the Company said it expects a marginal decline in revenues in the first quarter of fiscal 2014.

On September 17, 2013 Coty’s common stock price declined by 3.75%, to close at $15.64 per share.